/Engine/Source/Runtime/MovieScene/Public/Evaluation/MovieSceneTimeArray.h
All of the data is stored in "root" time space. That is: as you add timestamped data, these timestamps are converted back to "root times" using the inverse of the current time transform. Pushing and popping time transforms, and incrementing loop counts, makes it possible to change what's considered "local time", which affects this inverse transformation.
template<typename DataType> struct TMovieSceneTimeArray